Adani Ports and Special Economic Zone Ltd (APSEZ) will replace Wipro Ltd in the 30-stock blue-chip S&P BSE Sensex starting June 24. This move, announced on May 24, marks the inclusion of the first Adani Group company in the Sensex.
The BSE, during its semi-annual rebalancing exercise, decided to include APSEZ, the country’s largest private port operator. The changes were made by Asia Index, a joint venture between S&P Dow Jones Indices and BSE.
The BSE also announced updates to its BSE 100, Sensex 50, Sensex Next 50, BSE Bankex, and BSE 100 indices.
As part of the reshuffle, Page Industries, SBI Cards, ICICI Prudential Life Insurance, Jubilant FoodWorks, and Zee Entertainment Enterprises will be removed from the S&P BSE 100 index. They will be replaced by REC Ltd, HDFC AMC, Canara Bank, Cummins India, and Punjab National Bank.
Additionally, Tata Group’s Trent Ltd will join the Sensex 50, replacing Divi’s Laboratories Ltd. AU Small Finance Bank and IDFC First Bank will be removed from the BSE Bankex and replaced by Yes Bank and Canara Bank.
According to Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research, Adani Ports is expected to see inflows of $252 million after joining the Sensex, while Wipro might experience outflows worth $161 million.